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Towards a practical approach to responsible innovation in finance: New Product Committees revisited

Author

Listed:
  • Margaret Armstrong
  • Guillaume Cornut
  • Stéphane Delacôte
  • Marc Lenglet
  • Yuval Millo
  • Fabian Muniesa
  • Alexandre Pointier
  • Yamina Tadjeddine

Abstract

Purpose - The purpose of this paper is to highlight the potentials offered by New Product Committees for the development of responsible innovation in the financial services industry; and to provide grounds for policy recommendations. Design/methodology/approach - The paper takes the form of collective, interdisciplinary reflection and experience within the industry. Findings - New Product Committees can serve a practical approach to responsible innovation in finance. Originality/value - The paper fills a gap in the empirical consideration of New Product Committees in the financial services industry and proposes original directions for policy orientations within organizations and at a regulatory level.

Suggested Citation

  • Margaret Armstrong & Guillaume Cornut & Stéphane Delacôte & Marc Lenglet & Yuval Millo & Fabian Muniesa & Alexandre Pointier & Yamina Tadjeddine, 2012. "Towards a practical approach to responsible innovation in finance: New Product Committees revisited," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 20(2), pages 147-168, May.
  • Handle: RePEc:eme:jfrcpp:v:20:y:2012:i:2:p:147-168
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    References listed on IDEAS

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    1. Spencer, Peter D., 2000. "The Structure and Regulation of Financial Markets," OUP Catalogue, Oxford University Press, number 9780198776109.
    2. William L. Silber, 1981. "Innovation, competition, and new contract design in futures markets," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 1(2), pages 123-155, June.
    3. Merton, Robert C., 1995. "Financial innovation and the management and regulation of financial institutions," Journal of Banking & Finance, Elsevier, vol. 19(3-4), pages 461-481, June.
    4. Freeman, R. Edward, 1994. "The Politics of Stakeholder Theory: Some Future Directions," Business Ethics Quarterly, Cambridge University Press, vol. 4(04), pages 409-421, October.
    5. Rakesh Khurana, 2007. "Introduction to From Higher Aims to Hired Hands The Social Transformation of American Business Schools and the Unfulfilled Promise of Management as a Profession," Introductory Chapters,in: From Higher Aims to Hired Hands The Social Transformation of American Business Schools and the Unfulfilled Promise of Management as a Profession Princeton University Press.
    6. Alessandro Carretta & Vincenzo Farina & Paola Schwizer, 2010. "The “day after” Basel 2: do regulators comply with banking culture?," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 18(4), pages 316-332, November.
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    1. repec:eee:tefoso:v:128:y:2018:i:c:p:1-9 is not listed on IDEAS

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